The Pittsburgh Steelers have many tough offseason decisions regarding some familiar veterans, but the most difficult might involve a player in his prime: wide receiver Mike Wallace. With three accrued NFL seasons, Wallace can become an restricted free agent next month, but unless the price is right, he likely won't return to Pittsburgh.

The math doesn't add up with the level at which the Steelers would need to tender or franchise Wallace ($9 million plus) and the team needing to trim $10 million in payroll to get under the NFL salary cap, according to the Pittsburgh Post-Gazette.

The Steelers aren't known for overspending to keep even their most talented free agents. Paying Wallace would put them in a bind as they try to work to keep several aging stars this year and prepare to reward younger players next year.

If there is any position where the Steelers can afford to save money, it would be wide receiver. Because of the promise both Antonio Brown and Emmanuel Sanders have shown in just two seasons, the team might parts ways with longtime favorite Hines Ward.

Wallace is clearly the team's best big-play receiver, but Brown and Sanders have more well-rounded skill sets.

If another team deems Wallace is worth a first-round pick in compensation, there's a possibility he would get a lucrative offer sheet that the Steelers are neither willing nor able to match.

Although an up-and-coming franchise might look at Wallace as a game-changing No. 1, he is a better fit on an AFC rival contender with an established quarterback such as the Baltimore, Houston Texans or New England Patriots.

Wallace had a breakout 2010 season with seven 100-yard receiving games, but he had a below-average finish last season. In the first 10 games before the Steelers' bye, Wallace had 53 catches for 922 yards and six touchdowns with four 100-yard games. From Week 12 through the wild-card playoff loss at the Denver Broncos, Wallace had 22 catches for 297 yards and two TDs, with no 100-yard games.

At 6-foot, 199 pounds, Wallace, 25, is among the NFL's sleekest, fastest players. But when he's not stretching the field as a vertical threat, opponents take him out of the Steelers' game plan.

Well-timed with Wallace's late-season fade was the emergence of Brown as a No. 1-like receiver and Pro Bowl return man.

Brown will be a restricted free agent concern after 2012. Given his versatility to help the team on both offense and special teams, he has more value to the Steelers than Wallace.

Other voices

— Any offer made to Wallace once free agency begins March 13 would have to be too much for the Steelers, who could match it since Wallace is restricted. There's also the potential for a bidding situation with other receiver-needy teams picking at the end of the first round like the Ravens or the Patriots.

In the end, the 49ers would not only give up the first-round pick but also some of the cap space earmarked for free agents. Wallace is good. But is he better than two players — say Pierre Garcon and Mohamed Sanu, or perhaps Janoris Jenkins and Vincent Jackson or Rueben Randle and Marques Colston — the 49ers could add this offseason?

— I’m not saying there isn’t a chance that Wallace could be wearing purple in 2012, but there are a lot of moving parts in this scenario, including future salary cap ramifications if the Ravens sign Wallace to a big long-term deal. It’s not as simple as shooting the Steelers a polite email to let them know they are taking him off their hands.

—Wallace passes what we call the Rosevelt Colvin Test: Bill Belichick has gushed about him on several occasions, with little or no provocation. Prior to the Patriots-Steelers game in October this past year, here was Belichick on Wallace: “He’s a big-play receiver. He’s really fast. … Nobody is going to catch him, so you have to be careful about how much space he gets when he catches the ball. I think he’s improved a lot from when we played them last year, just as a football player, his patience and route technique.